Shell to sell Nigeria domestic gas business to Vaaris Energy

Shell Petroleum B.V. is selling its entire stake in Shell Nigeria Gas Group, which operates a 170 km pipeline network serving 130 businesses. The sale to Vaaris Energy is subject to regulatory approvals and excludes upstream gas production and LNG operations. Shell's Nigerian restructuring includes asset sales and offshore investments, such as the Bonga North development.

Tanzania's finance minister said the country expects to finalize a $42 billion LNG project led by Equinor and Shell, with other partners including ExxonMobil. The project aims to develop 47.13 trillion cubic feet of natural gas reserves, with most for export and some for domestic use. The agreement was initially expected to be signed by June but is now nearly finalized.

Tanzania is finalizing a $42 billion LNG project led by Equinor and Shell, with ExxonMobil and others involved. The project aims to unlock 47.13 trillion cubic feet of gas, with most for export. The government seeks to double electricity capacity by 2030, balancing industrial growth and climate goals. Financial terms and revenue distribution will impact Tanzania's public finances and energy security.

Egypt and Chevron are advancing the $4 billion Aphrodite gas project, connecting Cyprus' offshore gas to Egypt's infrastructure. Chevron, with a 35% stake, leads development alongside Shell and NewMed Energy. The project aims to enable LNG exports, but a final investment decision is pending.

Chevron, Shell, Sinopec, and CNOOC may invest $500M in a Kazakhstan oil exploration consortium, according to KazMunayGas. The venture, expected by year-end, will conduct seismic surveys and drill exploration wells. All four companies already operate in Kazakhstan.

Shell (SHEL) is selling Solenergi Power for $1.8B. The buyer aims to secure $1.5B in rupee project loans. Shell opposes Australia's proposed LNG export rule, citing potential price and economic impacts. The company has resumed Gulf of Mexico operations post-Hurricane Isaias. Shell was dropped from the WPC Energy Congress agenda due to regional tensions.